🔥 Garden Finance reportedly lost more than $10.8 million in the hack!

[{"type":"bulleted-list","children":[{"type":"list-item","children":[{"text":"Garden Finance was recently hacked, with reported losses of at least $10.8 million. on-chain investigator ZachXBT discovered the incident just days after he exposed the platform for facilitating money laundering."}]},{"type":"list-item","children":[{"text":"This is not the first time a similar incident has occurred in the crypto space. Earlier this year, THORChain was accused of helping North Korean hackers launder money, but a few months later, they themselves had money stolen from THORChain founder."}]}]},{"type":"paragraph","children":[{"text":""}]},{"type":"heading-two","children":[{"text":"Garden was severely hacked"}]},{"type":"bulleted-list","children":[{"type":"list-item","children":[{"text":"Earlier this week, Garden Finance "},{"type":"link","url":"https://vn.beincrypto.com/bitcoin-bridging-app-garden-north-korea-money-laundering/","children":[{"text":"announced it had bridged over $2 billion"}]},{"text":" in Token, but "},{"type":"link","url":"https://beincrypto.com/learn/zachxbt-crypto-scam/","children":[{"text":"several prominent investigators"}]},{"text":" have accused it of money laundering."}]},{"type":"list-item","children":[{"text":"ZachXBT claims that more than 25% of the platform's traffic comes from illegal sources, while Tayvano alleges that criminals originating from North Korea (DPRK) are using it heavily."}]}]},{"type":"paragraph","children":[{"text":"💥 Ironically, those same investigators have more reason to mention the company. This morning, ZachXBT "},{"type":"link","url":"https://t.me/investigations/282","children":[{"text":"reported that"}]},{"text":" Garden was hacked for $10.8 million:"}]},{"type":"block-quote","children":[{"type":"paragraph","children":[{"text":"“Garden Finance has likely been exploited for over $10.8 million across multiple chains. An address associated with the team sent an onchain message to the alleged exploiter, offering a 10% whitehat bounty. A few days ago, I pointed out…how Garden Finance ignored the victims,” he said via Telegram."}]}]},{"type":"bulleted-list","children":[{"type":"list-item","children":[{"text":"His initial message only mentioned a loss of $5.8 million before being revised to a much higher figure. The update also noted that “all assets that could be frozen were quickly swapped.” In other words, it’s unclear exactly how much Garden lost in the hack, but the damage is significant."}]},{"type":"list-item","children":[{"text":"Garden itself said the attack affected multiple blockchains, but only directly mentioned Arbitrum. The company also said that “assets were taken from us,” rather than implying that user funds were the primary target. For now, we don’t have any further details on the technical details of the attack."}]}]},{"type":"paragraph","children":[{"text":""}]},{"type":"heading-two","children":[{"text":"An ironic misfortune"}]},{"type":"numbered-list","children":[{"type":"list-item","children":[{"text":"Still, Garden isn’t the first company to suffer such an ironic hack. THORChain , for example, has been "},{"type":"link","url":"https://vn.beincrypto.com/thorchain-swap-coinbase-stolen-btc/","children":[{"text":"accused of laundering money"}]},{"text":" for hackers multiple times, including "},{"type":"link","url":"https://vn.beincrypto.com/lazarus-laundered-bybit-hack-funds-via-thorchain/","children":[{"text":"North Korea’s notorious Lazarus group"}]},{"text":" ."}]},{"type":"list-item","children":[{"text":"A few months later, criminals originating from the DPRK "},{"type":"link","url":"https://vn.beincrypto.com/north-korea-hack-thorchain-founder-1-3-million/","children":[{"text":"stole $1.3 million"}]},{"text":" from the founder of THORChain."}]},{"type":"list-item","children":[{"text":"Such incidents often discourage the “white knights” from investigating. Moreover, if they cannot freeze any stolen assets, "},{"type":"link","url":"https://vn.beincrypto.com/crypto-scam-security-prevention-proven-useless/","children":[{"text":"what else can they do"}]},{"text":" ?"}]},{"type":"list-item","children":[{"text":"Community investigators could gather evidence for later prosecution, but that may be completely impractical."}]},{"type":"list-item","children":[{"text":"Ultimately, Garden Finance will have to rely on the 10% bounty being attractive enough to entice the hackers to cooperate. Otherwise, it will be difficult to get much beyond analyzing the breach itself."}]}]},{"type":"paragraph","children":[{"text":""},{"type":"topic","character":"GardenFinance","children":[{"text":""}]},{"text":" "},{"type":"topic","character":"Jucom","children":[{"text":""}]},{"text":" "}]}]